KUALA LUMPUR (July 13): ACE Market-bound MyMBN Bhd, which is set to be listed on Bursa Malaysia on July 25, saw 19.30 million new shares offered to the public oversubscribed by 30.77 times.
MyMBN is principally involved in the processing and sale of edible bird’s nests, specifically raw unclean edible bird’s nests.
The issuing house, Malaysian Issuing House Sdn Bhd (MIH), said a total of 7,712 applications for 613.14 million shares were received from the public for the 19.30 million shares offered at 21 sen per share.
Besides the 19.30 million shares, another 18.68 million shares were made available to eligible directors and employees of MyMBN, which MIH said were fully subscribed.
Mercury Securities Sdn Bhd as the sole placement agent for the IPO has confirmed that the 60.02 million new shares made available for application by way of private placement have been fully placed out to selected investors.
The notices of allotment will be mailed to all successful applicants by July 24.
Apex Research has valued MyMBN at a fair value of 30 sen based on estimated earnings per share of 1.9 sen for the financial year ending Dec 31, 2024, and a 10% premium to Bursa’s Consumer Products and Services Index 2024 forward price-earnings ratio of 16.2 times.